Mississippi lawmakers should deliver tax relief in 2022, but they need not take an all-or-nothing approach. There are many ways to improve the state’s tax code, even if full income tax repeal doesn’t remain on the table.
6 min read
When looking at the tax burden on businesses over time, it is important to provide a complete picture by accounting for the different types of businesses in the U.S. and the timing effects of the 2017 tax law. Doing so provides important context on existing tax burdens and for considering the impact of raising taxes on corporations and pass-through firms.
3 min read
France’s individual income tax system is the least competitive of all OECD countries. It takes French businesses on average 80 hours annually to comply with the income tax.
3 min read
The persistently high inflation in recent months has made some lawmakers question the need for additional deficit spending, In the short term, the Build Back Better Act would likely contribute to inflation, but the magnitude of that contribution is unclear.
3 min read
Norway’s proposed reductions in income tax have the potential to increase disposable income for workers that can potentially raise consumption and contribute to economic growth. However, the increase of the wealth and indirect taxes is likely to step up the complexity of the tax system and create additional distortions.
3 min read
One unintended consequence of the tax proposals in the Build Back Better Act is a higher potential burden on wireless spectrum investments, which could slow the build out of 5G technology as the U.S. races to compete with other countries—moving in the opposite direction of countries like China that are actively subsidizing 5G expansion.
5 min read
Rep. Mace (R-SC)’s States Reform Act would deschedule, regulate, and tax cannabis products with a novel federal excise tax design—based on quantities and predefined categories, not dissimilar from how the federal government taxes alcohol and tobacco.
7 min read
Infrastructure has made its way across the finish line, but the tax debate is far from over on Capitol Hill. Senior policy analyst Garrett Watson joins host Jesse Solis to walk us through the latest iteration of Democrats’ trillion-dollar reconciliation package and the myriad tax changes that are being proposed to finance this deal.
The IRS recently released the new inflation adjusted 2022 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.
5 min read
The most recent versions of President Biden’s Build Back Better plan are improvements on the original proposal, but would still reduce economic growth and average after-tax incomes for the top 80 percent of earners in the long run.
7 min read
Indonesia, the world’s second-largest cigarette market, has a uniquely complex system when it comes to taxing its tobacco consumption, which is almost exclusively cigarettes (98 percent).
4 min read
More often than not, by looking at Germany’s tax code as an example, G7 countries can improve the stability of their revenues and the lives of those they represent.
5 min read
Our new study identifies a number of deficiencies in Oklahoma’s tax code and outlines possible solutions for reform that would create a more neutral tax code and encourage long-term growth in the state.
6 min read
The nicotine tax proposal in the Build Back Better Act neglects sound excise tax policy design and by doing so risks harming public health. Lawmakers should reconsider this approach to nicotine taxation.
8 min read
Through 10 ballot measures across four states—Colorado, Louisiana, Texas, and Washington—voters will decide significant questions of state tax policy.
7 min read
Austria should not shy from lowering the corporate income tax rate sooner or even implementing a more ambitious tax reform to improve its tax competitiveness and contribute to greater economic growth.
3 min read
Under the latest iteration of the House Build Back Better Act (BBBA), the average top tax rate on personal income would reach 57.4 percent, giving the U.S. the highest rate in the Organisation for Economic Co-operation and Development (OECD).
2 min read
Under the Build Back Better framework, six states and D.C. would face combined top marginal capital gains tax rates of more than 40 percent, nearing the top rate among OECD countries.
3 min read
The intentions behind federal deductibility are undoubtedly pro-taxpayer. Unfortunately, that is not what happens in practice. Tax liability is not reduced. It is distorted.
7 min read